Hunt Cancels Truss Budget & Reform Membership Surges

What exactly does Liz Truss now stand for?

Hello and welcome back to Heaver News. I hope you all had an enjoyable weekend. I’m pretty sure Liz Truss did not.

Before I get to the most ludicrous and humiliating package of Government u-turns in recent memory, a big welcome to the many new subscribers.

A particular shout out to my newest paid subscribers Alan, S, John, Bootle, Ray and another S!

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U-Turn Madness

We have just seen the new Chancellor Jeremy Hunt pretty much scrap the entire Truss/Kwarteng mini-budget.

Instead of a swashbuckling, agenda-challenging Government abandoning establishment orthodoxies, we have just seen an almighty capitulation.

Virtually every tax cut plan has now been abandoned. So what does Liz Truss now stand for, exactly?

Harry Cole @MrHarryCole

Hunt: - REVERSE almost all of the tax measures that have not started legislation. - NICs and Stamp Duty break only ones to survive. -FREEZE ON BOOZE RATES scrapped - INCOME TAX to remain at 20 per cent "indefinitely".

Before I get to the many rumours about what and who could come next, it is worth remembering that the Truss Government could have targeted some sensible spending cuts.

For instance: can Britain really afford HS2 right now, with a budget forecast to hit over £100Billion?

ITV News @itvnews

HS2 could cost £106 billion, says review - £20bn over previous estimate itv.com/news/2020-01-2…

Or a foreign aid budget, though cut slightly, still amounting to a £10Billion+ annual giveaway?

It seems those expensive projects will continue instead of tax cuts with this Conservative Government - though it may no longer be the Truss Government for much longer.

The same names keep popping up when it comes to who could take over from Truss if she is ousted as soon as this week. A few of them are genuinely stunning.